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+------ Thread: Tubby's Contract | No Automatic Rollovers (/thread-778576.html)
Tubby's Contract | No Automatic Rollovers - 80sTiger - 04-26-2016 11:35 AM
Link: http://www.commercialappeal.com/sports/tigers/basketball/no-automatic-rollovers-in-tubby-smiths-contract-as-university-of-memphis-basketball-coach-316565c0-f-377138641.html
"New University of Memphis men's basketball coach Tubby Smith's five-year, $15.45 million contract has no automatic rollovers, a $500,000 buyout clause and a salary pool for assistant coaches and support staff totaling more than $930,000."
RE: Tubby's Contract | No Automatic Rollovers - Brother Bluto - 04-26-2016 11:44 AM
Lipman has left the building !!!!!
RE: Tubby's Contract | No Automatic Rollovers - MemTigerFan - 04-26-2016 11:48 AM
how does the salary pool compare to our conference mates and across the country? Top 15ish also?
RE: Tubby's Contract | No Automatic Rollovers - TiggerFan - 04-26-2016 11:55 AM
How can a basketball coach's contract expire on December 31?
RE: Tubby's Contract | No Automatic Rollovers - tiger1016 - 04-26-2016 12:07 PM
(04-26-2016 12:07 PM)tigers1125 Wrote: So we went from $10.6M owed to Pastner to $15M owed to Tubby. Brilliant work!
SMH
RE: Tubby's Contract | No Automatic Rollovers - TigerSeth - 04-26-2016 12:09 PM
(04-26-2016 12:07 PM)tigers1125 Wrote: So we went from $10.6M owed to Pastner to $15M owed to Tubby. Brilliant work!
Tubby isn't guaranteed. Hello!
RE: Tubby's Contract | No Automatic Rollovers - UofMemphis - 04-26-2016 12:09 PM
(04-26-2016 12:07 PM)tigers1125 Wrote: So we went from $10.6M owed to Pastner to $15M owed to Tubby. Brilliant work!
sure...if we fired him without ever coaching a game at Memphis, without cause...why would we do that?
RE: Tubby's Contract | No Automatic Rollovers - UofMemphis - 04-26-2016 12:10 PM
(04-26-2016 12:09 PM)TigerSeth Wrote:(04-26-2016 12:07 PM)tigers1125 Wrote: So we went from $10.6M owed to Pastner to $15M owed to Tubby. Brilliant work!
Tubby isn't guaranteed. Hello!
yes he is...try actually reading the article, miserable...500k is if another school hires him away.
Quote:If Memphis elects to terminate Smith's employment without cause, it will pay him "as liquidated damages an amount equal to 100% of the remaining balance of total compensation through the end of the term of the agreement with no mitigation or offset obligations applicable in such event."
RE: Tubby's Contract | No Automatic Rollovers - fsquid - 04-26-2016 12:11 PM
the point is that the amount of the contract will go down as time moves on without an extension the value goes to zero. Pastner's had those rollovers that kept the payoff at 10.6 million.
RE: Tubby's Contract | No Automatic Rollovers - Brother Bluto - 04-26-2016 12:13 PM
(04-26-2016 12:11 PM)fsquid Wrote: the point is that the amount of the contract will go down as time moves on without an extension the value goes to zero. Pastner's had those rollovers that kept the payoff at 10.6 million.
Give it time. He wins a tourney game in year 2 and he will probably get extended until 2050 knowing our track record
RE: Tubby's Contract | No Automatic Rollovers - fsquid - 04-26-2016 12:20 PM
(04-26-2016 12:17 PM)tigers1125 Wrote:(04-26-2016 12:11 PM)fsquid Wrote: the point is that the amount of the contract will go down as time moves on without an extension the value goes to zero. Pastner's had those rollovers that kept the payoff at 10.6 million.
Debt is debt no matter how accumulated. This was a terrible contract by our athletic dept once again. BTW, Pastner had no more rollovers on his contract. There were two but one in each of first two years of contract.
yes, but at least after 3 years if we want him to leave, we are on the hook for less than half than for the full amount.
RE: Tubby's Contract | No Automatic Rollovers - 3usersonline - 04-26-2016 12:25 PM
(04-26-2016 11:48 AM)MemTigerFan Wrote: how does the salary pool compare to our conference mates and across the country? Top 15ish also?
Just looking around real quick:
Nebraska ~720K
URI ~400K
UCF ~550K
Those are the only ones I could find definitive numbers on. Unfortunately, this resource doesn't list basketball assistant salaries like they do with football:
http://sports.usatoday.com/ncaa/salaries/mens-basketball/coach/
RE: Tubby's Contract | No Automatic Rollovers - 80sTiger - 04-26-2016 12:30 PM
Gregg Marshall's deal last time around when Alabama and Texas came after him has an ass't pool at around $625k
RE: Tubby's Contract | No Automatic Rollovers - UofMemphis - 04-26-2016 12:32 PM
"and a salary pool for assistant coaches and support staff totaling more than $930,000."
lol, sounds like Keelon was mad...until he found out he was getting a raise
RE: Tubby's Contract | No Automatic Rollovers - Penny Lane - 04-26-2016 12:35 PM
(04-26-2016 12:20 PM)fsquid Wrote:(04-26-2016 12:17 PM)tigers1125 Wrote:(04-26-2016 12:11 PM)fsquid Wrote: the point is that the amount of the contract will go down as time moves on without an extension the value goes to zero. Pastner's had those rollovers that kept the payoff at 10.6 million.
Debt is debt no matter how accumulated. This was a terrible contract by our athletic dept once again. BTW, Pastner had no more rollovers on his contract. There were two but one in each of first two years of contract.
yes, but at least after 3 years if we want him to leave, we are on the hook for less than half than for the full amount.
After 3 years of Pastner's contract, we just owed him what he was due for rest of contract. Rollovers occurred FIRST TWO SEASONS. Don't forget Pastner was here 7 years; this is a five year contract for Tubby. So we are on the hook for more for 5 years of Tubby's contract than 7 years of Pastner's.
RE: Tubby's Contract | No Automatic Rollovers - memtiger1987 - 04-26-2016 12:45 PM
Tubby will get at least 3-4 years to see what he can do here. My guess at least 4. If he fails here (and hopefully that's not the case), his buyout won't be ridiculously high. Also, I'd suspect that his salary for a new school (if he continues coaching) will offset that amount.
I'm not sure why people are already complaining. He'll get players and will do much more with what he has than Pastner could. He'll be able to handle the kids and demand the respect that Pastner couldn't get. Seemed like he handled the Lawson situation correctly.
Love the hire!!
RE: Tubby's Contract | No Automatic Rollovers - Tygrys - 04-26-2016 12:54 PM
(04-26-2016 12:35 PM)Penny Lane Wrote:(04-26-2016 12:20 PM)fsquid Wrote:(04-26-2016 12:17 PM)tigers1125 Wrote:(04-26-2016 12:11 PM)fsquid Wrote: the point is that the amount of the contract will go down as time moves on without an extension the value goes to zero. Pastner's had those rollovers that kept the payoff at 10.6 million.
Debt is debt no matter how accumulated. This was a terrible contract by our athletic dept once again. BTW, Pastner had no more rollovers on his contract. There were two but one in each of first two years of contract.
yes, but at least after 3 years if we want him to leave, we are on the hook for less than half than for the full amount.
After 3 years of Pastner's contract, we just owed him what he was due for rest of contract. Rollovers occurred FIRST TWO SEASONS. Don't forget Pastner was here 7 years; this is a five year contract for Tubby. So we are on the hook for more for 5 years of Tubby's contract than 7 years of Pastner's.
After 7 years we still owed Pastner over $10.5 million. After two years under Tubby's contract we will owe less than that. It is a 5 year deal, we are not firing Tubby after one or two years "without cause". He will get a minimum 3 or 4 years to get going.
RE: Tubby's Contract | No Automatic Rollovers - bubbapt - 04-26-2016 12:57 PM
(04-26-2016 11:44 AM)Brother Bluto Wrote: Lipman has left the building !!!!!
RE: Tubby's Contract | No Automatic Rollovers - Sundanceuiuc - 04-26-2016 12:57 PM
(04-26-2016 12:32 PM)UofMemphis Wrote: "and a salary pool for assistant coaches and support staff totaling more than $930,000."
lol, sounds like Keelon was mad...until he found out he was getting a raise
Aren't the support staff salaries not part of the pool? I thought that pool was for the 3 chairs and not for the DBO type spots...
Can one of our smarter posters clarify? Many thanks.
RE: Tubby's Contract | No Automatic Rollovers - UofMemphis - 04-26-2016 01:00 PM
(04-26-2016 12:57 PM)Sundanceuiuc Wrote:(04-26-2016 12:32 PM)UofMemphis Wrote: "and a salary pool for assistant coaches and support staff totaling more than $930,000."
lol, sounds like Keelon was mad...until he found out he was getting a raise
Aren't the support staff salaries not part of the pool? I thought that pool was for the 3 chairs and not for the DBO type spots...
Can one of our smarter posters clarify? Many thanks.
I don't claim to be smarter than you, but that's what they reported :-)